SEATTLE, Feb. 3, 2015 /PRNewswire/ -- Northwest Plan Services, Inc. has acquired CDM Retirement Consultants. CDM, founded in 1998 and headquartered in Towson, MD, is a provider of open architecture retirement plan solutions, offering full service recordkeeping and expert administration to over 500 retirement plan clients. The acquisition of CDM positions NWPS with a strong presence on each coast and adds two experienced entrepreneurs, Mr. Chip Earle and Ms. Virginia McGinnis to the executive management team.
This marks the first acquisition for NWPS. According to Tim Wulfekuhle, CEO of NWPS "CDM shares our commitment to providing service of the highest quality to all clients regardless of size and has assembled a high-performing staff that supports this commitment. Our combined firms are able to serve clients and plan participants across the country. We also like the fact that CDM is not in the investment business. We believe that the unbundled service structure is best for retirement plan sponsors and participants and we have no interest in cross selling investment services to our clients."
The combined organization has 60 employees serving some 800 retirement plans with 180,000 participants and over $10 billion in plan assets. This scale further enables the combined companies to continue serving a wide range of clients, from start-ups to Fortune 500® companies. According to Mr. Wulfekuhle "we have no plans for staffing or client changes, but instead will leverage the strengths of both organizations to enhance our services and grow our business".
Northwest Plan Services, Inc. is an independent provider of retirement plan consulting, administration, actuarial, communication and participant services based in Seattle, WA and serving clients since 1994. NWPS provides services for 401(k), 403(b), 457, ESOP, Defined Benefit Pension, Cash Balance and all types of Defined Contribution plans. For more information please see www.nwp401k.com or follow NWPS on Twitter @nwp401k.
PRLog ID: www.prlog.org/12421369
SOURCE Northwest Plan Services, Inc.